How To Buy Crypto.com Coin (CRO)?
A common question you often see on social media from crypto beginners is “Where can I buy Crypto.com Coin?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.
Step 1: Create an account on an exchange that supports Crypto.com Coin (CRO)
First, you will need to open an account on a cryptocurrency exchange that supports Crypto.com Coin (CRO).
We recommend the following based on functionality, reputation, security, support and fees:
Fees (Maker/Taker) 0.4%*-0.4%*
Available for Trade 200+
Up to $50 worth of CRO*
Europe, Asia, Oceania, Africa
Fees (Maker/Taker) 0.020%*-0.070%*
Available for Trade 200+
5% reduced trading fees*
Europe, Asia, Oceania, Africa
In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
Step 2: Deposit funds into your account
Many cryptocurrency exchanges will allow you to purchase Crypto.com Coin (CRO) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
Step 3: Buy Crypto.com Coin (CRO)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Crypto.com Coin (CRO) or Crypto.com Coin (CRO) trading pairs. Look for the section that will allow you to buy Crypto.com Coin (CRO), and enter the amount of the cryptocurrency that you want to spend for Crypto.com Coin (CRO) or the amount of fiat currency that you want to spend towards buying Crypto.com Coin (CRO). The exchange will then calculate the equivalent amount of Crypto.com Coin (CRO) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Crypto.com Coin (CRO) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.
For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.
What Is Crypto.com Coin (CRO)?
Crypto.com Coin (CRO) is the native cryptocurrency token of Crypto.com Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading and financial services company.
Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app.
In the future, Crypto.com plans to expand the reach of the CRO platform to power its other products as well.
CRO went live in November-December 2018.
Who Are the Founders of Crypto.com Coin?
Crypto.com Coin was launched by the Crypto.com company as part of its vision of “putting cryptocurrency in every wallet.” Crypto.com itself was founded in June 2016 as “Monaco Technologies GmbH” by Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao.
Kris Marszalek, an alum of the Polish Adam Mickiewicz University, has founded and headed three companies prior to starting Crypto.com: consumer electronics design and manufacturing business Starline Polska, location-based service mobile app and platform YIYI and the e-commerce firm BEECRAZY.
Rafael Melo earned his bachelor’s degree in engineering from the PUC-Rio. Over his more than 15-year-long career in finance, Melo has worked with major companies in Asia and helped secure over 50 million AUD in funding for the Ensogo social commerce website.
Gary Or is a software engineer with over nine years of fullstack engineering experience. Prior to co-founding Crypto.com, Or worked as platform architect at Ensogo and co-founded the mobile app development firm Foris. He received his bachelor’s degree in engineering, computer science from the University of Hong Kong.
Before helping launch Crypto.com, Bobby Bao worked in the M&A department of the China Renaissance investment bank. Bao has studied at the University of Melbourne, NYU Stern School of Business and the College of William & Mary.
What Makes Crypto.com Coin Unique?
CRO blockchain is mainly focused on providing utility to the users of Crypto.com’s payment, trading and financial services solutions. CRO owners can stake their coins on the Crypto.com Chain to act as a validator and earn fees for processing transactions on the network. Additionally, CRO coins can be used to settle transaction fees on the Crypto.com Chain.
Within the framework of the Crypto.com Pay payments app, users can get cashback of up to 20% by paying merchants in CRO and up to 10% by purchasing gift cards and making peer-to-peer transfers to other users.
When it comes to trading use cases, the Crypto.com App allows users to earn token rewards for select listings by staking CRO. Additionally, users can earn annual interest of up to 10-12% on their Crypto.com Coins by staking them on either the Crypto.com Exchange app or Crypto.com’s metal Visa Card.
Overall, CRO acts as an instrument that powers Crypto.com’s drive to increase the adoption of cryptocurrencies on a global scale. As such, the company is continuously working on finding and developing new use cases that will allow users to leverage the cryptocurrency to enhance the control they have over their money, data and identities.
What Is The Crypto.com Chain?
Crypto.com Chain is billed as the “next generation” platform which should bring together the merchants and cryptocurrency users on a public blockchain capable of supporting instant, cost-efficient and secure transactions among them. This is to be done by allowing the Chain to tackle some of the issues which are being described as the main snags on the blockchain’s path to a wider adoption:
Crypto.com Chain is supposed to offer high scalability and fast payment processing. The Chain is designed as the payment network which aims to offer immediate payment confirmations while also supporting scaling in line with an increasing number of transactions. With the help of its decentralized protocol for transaction processing, the target confirmation time on the Crypto.com Chain is set at being less than one second, while the platform promises to support 50,000 transactions per second.
Crypto.com Chain wants to get rid of the traditional fiat payment structures which are not friendly to innovative payment methods such as cryptocurrencies. The Crypto.com team pulls no punches in describing traditional payment platforms as being resistant to changes, such as the easy introduction of new currencies and removal of strict rules which are imposed on merchants. The problem is exacerbated by having blockchain-powered payment networks which also do not provide for easy integration and streamlined settlement for the cryptocurrencies. In place of this, the Chain will offer systematic integration with supported cryptocurrencies and remove the transaction fees for the merchants. The platform has already introduced its dedicated software development kit (SDK) for the merchants interested in integrating this soluton.
Crypto.com Chain sees decentralization as the shortcut to making crypto payments a mainstream option. Eventually, the Crypto.com Chain should become a network of a broader range of related cryptocurrency projects. These systems will be customized as alternatives to existing payment systems by being less complex to set up and cheaper to operate. At the same time, they will be offered support going beyond their native blockchain and being more accessible for the use by the newcomers in the crypto industry.
Crypto.com Chain wants to avoid becoming a potential central point of failure and thus improve its security. Built-in security protocols on the Crypto.com Chain include the use of the trusted execution environments (TEEs) whose main task is the protection of the integrity and confidentiality of data belonging to the participants in this ecosystem. In addition to security, the platform is promoted as offering advanced privacy features thanks to its implementation of the multi-signature Merkelized Abstract Syntax Trees (MAST).
Finally, Crypto.com Chain will support the expansion of the Crypto.com’s line of MCO Visa payment cards. Considering that the cards in question feature no annual fees and support international purchases with more favorable interbank fees, the Crypto.com team saw their Chain platform as their natural ally in the quest of bringing a larger number of users to the global crypto ecosystem. By offering native support for cryptos and incentives for the participants, the Crypto.com Chain aims to make the targeting of new customers a faster and cheaper process in the world of crypto payments.
Official website: https://crypto.com/
Best cryptocurrency wallet for Crypto.com Coin (CRO)
There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Crypto.com Coin (CRO)?
Deciding which type of wallet to use depends on a variety of factors, including:
- How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades.
- What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
- Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
- How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
- What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.
For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.
Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).
Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).
Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following: